M&A Deal Summary

Ulta Beauty Acquires Space NK

On July 10, 2025, Ulta Beauty acquired retailer Space NK from Manzanita Capital

Acquisition Highlights
  • This is Ulta Beauty’s 1st transaction in the Retail sector.
  • This is Ulta Beauty’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2025-07-10
Target Space NK
Sector Retail
Buyer(s) Ulta Beauty
Sellers(s) Manzanita Capital
Deal Type Add-on Acquisition
Advisor(s) Raymond James - Investment Banking (Financial)
Bryan Cave Leighton Paisner (BCLP) (Legal)

Target

Space NK

London, United Kingdom
Space NK is a lifestyle retailer selling fresh smoothies, independent fashion labels, and hard-to-find beauty treasures from emerging international brands such as Diptyque, By Terry, and NARS. Space NK was founded in 1991 and is based in London, United Kingdom.

Search 214,238 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Ulta Beauty

Bolingbrook, Illinois, United States

Category Company
Founded 1990
Sector Consumer Products
Employees20,000
Revenue 11.3B USD (2025)
DESCRIPTION

Ulta Beauty is a provider of cosmetics, fragrances, skincare products, hair care products, and salon services. Ulta Beauty was founded in 1990 and is based in Bolingbrook, Illinois.


DEAL STATS #
Overall 1 of 1
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2025 M&A 1 of 1

Seller(S) 1

SELLER

Manzanita Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Family Office
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Manzanita Capital is a private investment firm focused on investing in emerging brands in partnership with entrepreneurs. Manzanita looks to leverage its experience in international retail and branding to help portfolio companies expand into new markets. Manzanita Capital was formed in 2001 and is based in London.


DEAL STATS #
Overall 4 of 4
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
Country: United Kingdom M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-31 Byredo

Paris, France

Byredo is a fragrance house that manufactures perfume, body care, home fragrances, and accessories. Byredo also offers a range of exclusive home, leather goods, make-up, accessories and regularly collaborates with prominent artists, music producers, and jewelry designers. Byredo was founded in 2006 and is based in Paris, France.

Sell -